IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,655 shares of the company’s stock after selling 224 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in IDEXX Laboratories were worth $806,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quarry LP raised its holdings in IDEXX Laboratories by 170.8% during the second quarter. Quarry LP now owns 176 shares of the company’s stock worth $86,000 after purchasing an additional 111 shares during the last quarter. Wallace Advisory Group LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth $233,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of IDEXX Laboratories by 14.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,118 shares of the company’s stock worth $1,031,000 after buying an additional 260 shares in the last quarter. NewEdge Advisors LLC grew its stake in IDEXX Laboratories by 36.4% in the 2nd quarter. NewEdge Advisors LLC now owns 9,400 shares of the company’s stock valued at $4,580,000 after acquiring an additional 2,506 shares during the last quarter. Finally, Algert Global LLC increased its holdings in IDEXX Laboratories by 70.0% during the 2nd quarter. Algert Global LLC now owns 709 shares of the company’s stock valued at $345,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $477.67 on Friday. The company has a market cap of $39.45 billion, a P/E ratio of 46.24, a P/E/G ratio of 4.32 and a beta of 1.33. The business has a fifty day simple moving average of $487.95 and a 200-day simple moving average of $496.16. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.67 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Piper Sandler cut their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Finally, BTIG Research began coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.